Early action in the overnight session is progressing as anticipated in an upward fashion. If the current rally is to unfold in a simple zig-zag, then the target(s) for the completion of wave c of wave (ii) is:
wave c = wave a @ 1087.25
wave c = .618 wave a @ 1081.75 (already reached)
wave c = .,618 wave a past wave a @ 1089.71
wave c = 1.618 wave a @ 1096.25
As a reminder... from last night's Market Wrap, I mentioned possible targets of at the gap between 1090-1096 and the .618 retracement at 1103. Together these represent our "Zone" for the termination of wave (ii).
Let's see what unfolds.
Best of Trading
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